Exxon Posted Record Earnings
Of $8.42 Billion for Fourth Quarter

Exxon Mobil Corp. said its fourth-quarter net income rose 27% to $8.42 billion -- its biggest quarterly profit ever and a record quarterly take for a U.S. public company.

Buoyed by high crude-oil and natural-gas prices, Exxon's net income rose to $1.30 a share, easily surpassing analysts' predictions. In the year-earlier period, the Irving, Texas, oil titan earned $6.65 billion, or $1.01 a share, including a large tax-related gain....